Are you sure?

Bourse shareholders approve HUF 240-per-share dividend

Shareholders of the Budapest Stock Exchange approved a proposal to pay a HUF 240-per-share dividend on 2010 profit at an annual general meeting on Friday.

The dividend fund comes to HUF 1.3 billion or nearly all of the bourse's HUF 1.32 billion profit for the period.

Last year, the exchange paid shareholders a HUF 255-per-share-dividend or more than 99% of 2009 profits.

Shareholders approved the bourse's balance sheet showing total assets of HUF 7.4 billion calculated with Hungarian Accounting Standards.

BSE chairman Mihály Patai said revenue was less than desired but the management countered by cutting costs. Profits were affected by an almost HUF 200 million payment on the extraordinary levy on financial companies and clearing house KELER's decision to pay no dividend, which would have given the bourse HUF 600-700 million.

Shareholders re-elected Patai for another three years. Additionally, all of the members of the board of directors as well as the supervisory board were re-elected.